Last Call to Apply for the 2024 Caren S. Franzini Fellowship!
The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!
Indiana Legend Fund Aims to Provide More Capital to Small Businesses
The Indiana Economic Development Corp. (IEDC) launched the Legend Fund, a loan participation program designed to help entrepreneurs and small businesses gain access to funds to fuel growth. The $29 million fund will distribute capital to local lenders to boost lending to small businesses, with a focus on historically underserved owners, and give non-traditional lenders an incentive to provide operating capital to Indiana-based businesses.
Register Today for the 2024 Federal Policy Conference!
Reserve your spot at the 2024 CDFA Federal Policy Conference on April 2-3, 2024, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and Grow America, will bring together leaders from the Biden administration, Congress, federal agencies, nonprofit organizations, and finance agencies who will discuss a range of federal legislative and policy topics. Interact with reps from the Department of the Treasury, the Small Business Administration, and the Environmental Protection Agency. Space is limited; act fast!
GRADD RLF Provides Opportunities for Small Businesses in Kentucky
The Green River Area Development District's (GRADD) Revolving Loan Fund (RLF) provides low-interest direct loans to people needing aid in financing land and building purchases. The loan can go toward helping with equipment and inventory purchases, working capital, and other business-related expenses. Loans are available through GRADD for existing businesses or startups in the GRADD service area and range from $10,000 to $250,000.
New Mexico Bill to Include $125M for Housing Development RLF
Gov. Michelle Lujan Grisham signed three bills that she said would open the door for more investments in housing, roads, bridges, and other infrastructure. House Bills 177, 232, and 195 enable at least $200 million in spending, including $125 million in loans for new housing development, and add more staff for infrastructure planning and development. The housing bill the governor signed allows the New Mexico Finance Authority to issue loans for housing development from a revolving fund that previously was only used for commercial development.
Minnesota Farmers Union Foundation RLF to Support Meat and Poultry Processors
Minnesota Farmers Union Foundation is now accepting loan applications from meat processors. The Foundation has a total of $900,000 in revolving loan funds (RLF) to distribute to support small and medium-sized meat and poultry processors through the Meat and Poultry Intermediary Lending Program. The program offers low-interest loans for the start-up, expansion, and operation of slaughter and further processing of meat and poultry. Funds can be used to purchase land or equipment, cover start-up costs, and make other business investments. Returned funds will be made available to new borrowers.
Oregon Housing Package to Include RLF for Middle-Income Housing
The Oregon Legislature is poised to vote on a $376 million housing package that would give cities more flexibility to build homes outside city limits. The package includes infrastructure funding, a new revolving loan for middle-income housing, more money for homeless shelters, and a boost to state rent assistance. It's a step up from the $350 million lawmakers initially proposed, though far less than the $600 million Kotek sought or her $550 million counteroffer, which included more money for building homes.
Hawaii to Receive $50M for Water Infrastructure Upgrades
Hawaii will receive over $50 million from the Environmental Protection Agency for drinking water and clean water infrastructure upgrades. The funding, at least half of which will be made available in the form of grants or principal-forgiveness loans, comes as part of a $5.8 billion investment via the Environmental Protection Agency's (EPA) Clean Water and Drinking Water State Revolving Funds, itself part of $50 billion in overall water infrastructure investment via the Biden administration's Investing in America agenda.
Brown Announces New Investment in Loan Program for Ohio Small Businesses
U.S. Senator Sherrod Brown (D-OH) announced that the Franklin County-based Economic & Community Development Institute is receiving a grant to support their existing revolving loan fund, which provides micro loans to small businesses in 66 counties around the state. This investment was awarded through the U.S. Department of Agriculture's (USDA) Rural Microentrepreneur Assistance Program.
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